GOLD: A Piece of the Auction

The gold in Fort Knox (and other U.S. Treasury stashes) has long been regarded as a sacrosanct symbol of national wealth. Once it was available for purchase only by foreign-government bankers who wanted to redeem dollars that the U.S. insisted were as good as gold; later the U.S. Government would not sell it to anyone. Last week, though, the Treasury announced plans more in line with its current belief that gold has become a mere commodity. On Jan. 6 it will sell 2 million ounces of the glittery stuff at public auction to...

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